TAS plans Leslieville development with new LP 3 fund

RENX  Residential  •  Apartments, Condominiums  •  Toronto / GTA

During the past month, Toronto’s TAS has closed a new fund and launched a formal framework for how its work impacts people’s lives. Among the properties destined for TAS LP 3 is a Leslieville site slated to become a multifamily development.

Manitoba backs $1B Shindico/CF development

Residential, Commercial  •  Winnipeg Free Press  •  RENX

The Manitoba government looks set to remove a zoning hurdle being used to rule out a $1-billion Shindico/Cadillac Fairview development proposal that includes restaurants, stores, office space and high-rise residential towers at an 80-acre site surrounding Winnipeg’s Polo Park mall.

Private consortium to revamp downtown Hamilton

Residential, Commercial  •  Daily Commercial News

Hamilton has entered into an agreement with the Hamilton Urban Precinct Entertainment Group to invest in downtown. The 49-year accord will see “The Precinct Group,” take responsibility for the FirstOntario Centre, the FirstOntario Concert Hall and the Hamilton Convention Centre.

Six-storey commercial planned for Hamilton’s Gore Park

Commercial  •  Insauga  •  Global News

Hamilton-based DPAI Architecture has proposed a six-storey project that will include five storeys of office space and street-level retail at 18-22, and 24 and 28 King St. E. as part of a redevelopment of a series of 19th-century buildings alongside Hamilton’s Gore Park.

Cambridge LRT gets green light from province

Commercial  •  CBC  •  CTV  •  Global News

The province has approved the Region of Waterloo’s transit project assessment for Stage 2, giving the green light to seek provincial and federal funding for the project. Construction isn’t expected to start until 2028 and will take between four to five years.

Three-building commercial condo coming to Cambridge

Commercial  •  Cambridge Times

Property broker Sarbjit Bath will be bringing the Cambridge Gateway Centre, containing three free-standing two-storey commercial condo buildings – The Galt, The Preston and The Hespeler – totalling 85,000 square feet of space at 460 Hespeler Rd. Possession is expected in June 2022.

The Apartment Building Expert › Why women make great commercial real estate brokers

Derek Lobo: Founder and CEO , SVN Rock Advisors Inc.

Concord Pacific expands renewable energy portfolio

Residential, Commercial  •  Sustainable Biz Canada

Concord Pacific, based in Vancouver, is one of Canada’s most recognized commercial and residential real estate developers. Increasingly in recent years, the company has also built a renewable energy portfolio, which includes wind, hydroelectric and utility-scale solar assets.

Historic Toronto post office for sale

Residential, Commercial  •  blogTO

Canada Post is selling its historic old “Postal Station C” at 1117 Queen St. W. in Toronto. Colliers International recently listed the landmark two-storey, 11,345-square-foot brick-and-beam building, with 108 feet of frontage along Queen Street West. No price was included.

Mtl. rejects plan for 12-storey apartment tower

Residential  •  Montreal Gazette

The demolition committee for the Ville-Marie borough has refused permission to developers Brandon Shiller and Jeremy Kornbluth to tear down a six-storey apartment building at 3477 Drummond St. and replace it with a 12-storey building which would have included 107 units.

Empire posts first sales decline in a year

Commercial  •  Globe and Mail  •  Canada Newswire  •  Toronto Star

Grocers are preparing for a shift in shopping behaviour as more Canadians receive COVID-19 vaccines, Sobeys owner Empire Company Ltd. (EMP-A-T) said on Wednesday as it reported its first sales decrease in more than a year.

Metrolinx unveils plans for 4 more Ontario Line stations

Commercial  •  Urban Toronto

Metrolinx has unveiled plans for the next four stations on the Ontario Line through downtown Toronto: Osgoode; Queen; Moss Park; and Corktown. Ontario Line will stretch from Exhibition Place and the intersection of Eglinton Avenue East and Don Mills Road.

Baker claims HBC worth more than ever

Commercial  •  Financial Post

Hudson’s Bay Co. ULC executive chairman and chief executive Richard Baker says his storied network of department stores is now worth more than ever, as evidenced by a pair of deals to spin off digital operations into standalone companies.

Nicola acquires Arizona mixed-use property for $16.7M

Residential, Commercial  •  REBUSINESS  •  RENX

Vancouver-based Nicola Wealth Real Estate has acquired a mixed-use property located in downtown Tempe from Wexford Developments for $16.7 million. The 22,209-square-foot building features three levels of office space above ground-floor retail space and is 100 per cent leased.

Amazon could be forced to sell logistics business

Commercial  •  Toronto Star

Amazon.com Inc. could be forced to sell its logistics services division — the network of warehouses and delivery hubs around the U.S. that power quick delivery of online orders — under antitrust legislation proposed by a congresswoman from Amazon’s hometown of Seattle.

Regent acquires San Diego office portfolio for $420M

Commercial  •  CP Executive  •  PR Newswire

Regent Properties, a real estate investment and development firm, announced it has acquired a portfolio of four high-rise commercial office buildings located in downtown San Diego, for $420 million, marking the first investment via Regent Opportunity Fund V.

GTA condo price rises by 44% since 2017 housing peak

Residential  •  REMI Network

An average condo in the GTA went for $437,000 during the last housing peak in 2017. Fast forward to today’s pandemic buying frenzy and the condo price is now roughly $625,927 — a 44 per cent spike in value,  according to brokerage Properly.

Tearing down fine rental buildings financially lucrative in T.O.

Residential  •  Toronto Star

OPINION: Tenblock has proposed replacing Number 145 St. George St., a 12-storey rental building built in 1959, with a 29-storey tower, demonstrating the absurdity where it makes sense for a developer to tear down a Toronto building housing hundreds to build bigger.

Ontario home builders’ code of ethics a step forward

Residential  •  Toronto Star

OPINION: A code of ethics for builders and their staff which comes into force on July 1 has the potential to create a sea change in the marketing of new homes and condominiums. The first in Ontario’s history, the code for the industry takes effect by way of a government regulation under the New Home Construction Licensing Act of 2017.

U.S. existing home sales fall again

Residential  •  Victoria Times Colonist  •  Daily Commercial News

Sales of previously occupied homes fell for the fourth straight month in May as soaring prices and a limited number of available properties discouraged many would-be buyers, the National Association of Realtors said Tuesday.